By Kelli B. Grant

Airfare and hotel prices typically fall after Labor Day as tourist traffic drops off, and now, the Euro has dropped to $1.37, its lowest level against the dollar since February.

Although the Euro doesn’t affect airfare or hotel rates directly – a hotel room that’s 150€ will still be 150€ – the drop does make that hotel room cheaper for travelers who are exchanging dollars to pay for it. “It’s pretty straightforward,” says Ed Perkins, a contributing editor for travel advice site SmarterTravel.com. “If the Euro is down X%, your day-to-day cost will be down X%.”

Of course, Friday’s drop isn’t going to save travelers a whole lot. The Euro was worth $1.45 a little more than a week ago, so the drop over the past week translates to an extra $12 savings on a 150€ hotel room. But that may be enough for travelers already ogling cheap getaways, like a $271 Lufthansa fall fare sale to London on Travelzoo.com or Aer Lingus fall promotion on Dublin fares for as little as $219 each way.

Europe-bound travelers looking to maximize their currency savings exchange with care. As we’ve previously reported, credit cards often offer the best rates, and many also waive the foreign transaction fees of up to 4%. Using your debit card at an ATM is a close second, for times when you want Euros in hand.

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